Business for sale

Business description

Traditional, grade ii listed 16th century inn located on the main high street in the delightful historic cathedral town of brecon, powys genuine potential to increase trade offered at a realistic asking price of £460,000 freehold to inc fixtures & fittings, goodwill plus s.a.v.

Sales Year End April 07 £217,460 Inc VAT with a Recon NET profit of around £65,455. Gross Profit margins in excess of 60% being achieved on sales. Genuine scope to increase bottom line in the hands of Husband & Wife team

*Comprising of public bar and lounge bar

*Family sized accommodation with scope to introduce letting rooms

*Picturesque location in the shadow of the brecon beacons national park

*Located to the heart of the ever poplar tourist mecca of brecon attracting year round custom of locals and visitors- both british and foreign

*Perfectly suited to a hands-on private operator or ideal corporate purchase

LOCATION (LD3 7AP)
A garrison town brecon is a popular and thriving town within the brecon beacons national park. This is a town where you’ll enjoy losing yourself…not only in the narrow streets and passageways lined with georgian and jacobean shop fronts, but in the sense of timelessness. This magical spot at the confluence of the usk and honddu rivers, sheltered by the mountains, has been admired and protected since the iron age.

Now the commercial centre of the southern part of powys, it remains primarily a traditional welsh market town – as you will see on any tuesday or friday! Swansea cathedral is located in the town, the origins of which are believed to date back to 1094. ‘A historically valuable group of monastic buildings’. The cathedral continues to draw large numbers of visitors.

The unique name of the venue ‘ye olde cognac’ originated from a historic military past. Still a garrison town today, the barracks once held french prisoners captured during the napoleonic wars from which the name of the inn derived.

Soldiers from the 24th regiment fought at the famous ‘rourkes drift’ and a museum commemorates this and draws countless visitors. Brecon has so much to offer the thousands of visitors who frequent the area throughout the year.

A particular draw to the town is the internationally acclaimed annual jazz festival which takes place in august which attracts huge numbers. Add to this the presence of christ college which has been ranked in the top 3 for all independent uk schools and you do have a truly magnificent location in which to live & work! Local state schools also have an excellent reputation.

PROPERTY DESCRIPTION
A mid-terraced property, fronting the busy high street to the front and a busy shopping throughfare to the rear. A grade ii listed building that dates from the 16th century occupying a prime location at the heart of this thriving market town. With a bookmakers to both the front and rear of the property, some would say this is the ultimate location which to capture the trade.

Internally, the property maintains some period features throughout, with a light and airy feel enhanced by the large windows and high ceilings.
Accessed from the front of the property the public bar offers a traditional ‘untouched by time’ feel with oak parquet flooring throughout. An easily managed traditional fully equipped bar provides seating with a range of loose and fixed pub furniture. Both bars have the same welcoming feel. The venue is easily manageable by a husband and wife team.

Whilst the pub maintains a traditional feel and atmosphere, which proves to be very popular with its loyal customer base, there is potential to push the business forward by updating the trading areas. Although not essential, this is possibly something which any new operator may want to consider.
Providing 46 covers throughout, the venue enjoys a well established food trade, both at lunchtime and evenings.

The ladies and gents, fully tiled, high ceilinged wc facilities are at ground floor level.

At basement level is a large, easily worked cellar which accommodates the beer, bottle store and delivery area.
The well equipped catering kitchen is located to the first floor along with utility area.

OWNERS ACCOMMODATION
Spacious accommodation currently arranged over 2 floors currently offering large lounge, family bathroom, 4 large double or family bed rooms and a further bathroom, utilised as both family and staff accommodation. We are informed by the vendors that grants are available to facilitate the introduction of letting accomodation a route that any new operator is sure to explore, given the large number of tourists who frequent the brecon and outlying areas all year round.

We are also informed that Heritage Grants may be available for the upkeep of the property due to its historic origins.

PREMISES LICENSES
The business currently trades off traditional opening times and is operated very much to suit the lifestyle and desires of the current owners. A Personal License will be required and our training associates can assist with this for you if needed.

TENURE
We are instructed to offer the property and business for sale as COMPLETELY FREEHOLD.

SERVICES
We are advised that the property has the benefit of mains Water, Gas and Electricity

THE BUSINESS
Coming to the Market for the first time in 18 ½ Years, the previous owner having traded for 20 years, this is a genuine sale due to the ill health and retirement of our clients. Although our clients still have a daily ‘hands on’ approach, staff are employed in excess of what we would expect to see in this Husband & Wife situation. Enjoying a loyal customer base the business has historically shown a robust trading platform during our clients occupancy and financial documentation is available to support this.

Accounts for the Year ending April 2007 show a turnover of £217,460 Inc VAT with Recon Net Profits of around £65,455. There is scope to increase further Bottom Line Profits by reducing the unusually high wages bill. This is easily achievable in the hands of an able Husband & Wife team. We expect that a Recon Net Profit of in £70,000 is comfortably achievable. There is scope to increase the current turnover with the enthusiasm and ideas that a new owner is sure to bring. We believe there is true potential to see this figure rise above £80,000.

This is certainly an un-missable business opportunity waiting for an enthusiastic new owner to fully capitalise on its true potential and exploit the opportunities available. An ideal opportunity to purchase a traditional 16th century inn in a beautiful town centre location offering a high quality standard of living.

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